In the News (2011): "Shake it like an Instagram picture — Online Video News"

YouTube effects: Shake it like an Instagram picture

YouTube users can now apply a number of Instagram-like effects to their videos, giving them a cartoonish or Lomo-like look with the click of a button. The effects are part of a new editing feature that also includes cropping and advanced image stabilization.
Taking the shaking out of video uploads should go a long way towards making some of the amateur footage captured on mobile phones more watchable, but it can also be resource-intensive — which is why Google’s engineers invented an entirely new approach toward image stabilization.
The new editing functionality will be part of YouTube’s video page, where a new “Edit video” button will offer access to filters and other editing functionality. This type of post-processing is separate from YouTube’s video editor, which allows to produce new videos based on existing clips.